Mile Auto and Verisk to reduce premiums for low-mileage drivers

InsurTech Mile Auto has integrated telematics solutions from Verisk, a global data analytics provider, to help low-mileage drivers easily access affordable usage-based car insurance.

Launched in 2019, Mile Auto is an InsurTech that leverages computer vision and decision analytics to support pay-per-mile auto insurance offerings.

Mile Auto uses two Verisk solutions: Discount Alert and DrivingDNA Mileage. With Discount Alert, Mile Auto will be able to use anonymised telemetry data to target low-mileage drivers of connected cars and provide a prompt to request a Mile Auto quote. With DrivingDNA Mileage, Mile Auto will be able to access verified odometer readings.

Leveraging both solutions, Mile Auto said it plans to deliver a fast quote experience and provide accurate, mileage-based savings of up to 40% for drivers who opt to share their mileage data with Mile Auto.

Fred Blumer, CEO of Mile Auto, said, “The evolution of commuting and travel patterns has resulted in many people driving less and seeking to reduce their insurance premiums. But it’s often been a challenge for insurers to identify and determine how much individuals are actually driving.

“With Verisk’s telematics solutions, we’re able to find consenting, low-mileage drivers and quickly provide them with precise premiums based on mileage data from their connected cars.”

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